Deep Patel Interview: Building and Scaling Multimillion-Dollar Brands

There are more entrepreneurs starting companies today than at any other point in history. This is in large part thanks to the rapid development of technology that makes it simpler than ever to build new ideas. The technological advances have led to a decade of innovation spanning every industry, from finance to healthcare to agriculture.

While creating a product has gotten materially easier, standing out and actually being able to attract customers has become much harder. With increased competition, entrepreneurs are needing to find more creative ways to do marketing.

Developing a successful brand involves a delicate blend of art and science. The most successful brand builders seem to possess both a meticulous attention to detail and an ability to think about the bigger picture.

To dive deeper into understanding how to build and scale a multimillion-dollar brand, Men’s Journal spoke with 25-year-old Deep Patel, the founder of recent eight-figure exit Blu Atlas, a global men’s personal care brand that disrupted its space and built a loyal following. In this interview, we cover everything from brand-building fundamentals to business strategy to expensive lessons learned and what he would recommend doing differently.

This interview has been edited for length and clarity.

MJ: How did you choose the right market to start building in?

Deep Patel: When it came to choosing the right market for launching a business, I leaned into my gut feeling and intuition. The decision to step into the men’s grooming space wasn’t part of some grand plan; it just sort of happened. The reality was, I was frustrated with the personal care products out there. My skin would have terrible reactions to the harsh chemicals that are common in mainstream brands. It’s mind-boggling, really, that we still allow harmful substances in our cosmetics here in the U.S.

I realized there was an unmet need for better alternatives – products for guys like me who wanted something more from their personal care items. I saw a gaping hole in the market and thought, “Why not fill it?” I believed there was a way to do personal care differently, and better. So, my journey into this space was a mix of trusting my instincts, recognizing a personal need and identifying a significant gap in the men's grooming market that was waiting to be addressed.

MJ: What drove you to sell Blu Atlas, and was it a difficult decision to make?

Deep Patel: Selling Blu Atlas for eight figures to Foundry was a far more complex and heart-wrenching decision than I’d anticipated. Picture this: We're at the peak of our growth, the brand is blossoming beyond expectations, and I'm wrestling with the idea of taking the company to new heights in retail versus taking the exit ramp. The team at Blu Atlas was incredible, and the products we created were nothing short of masterpieces. Our growth trajectory wasn't just good; it was phenomenal.

Yet, there comes a time when you need to step back and weigh your dreams against the practicalities of the business. Moving into retail was a tempting path, but it was also uncharted territory for me. The risk was high – there was a real chance I could inadvertently jeopardize everything we had built by stepping into a world I wasn’t familiar with.

The turning point came when I realized that my daily involvement in Blu Atlas was starting to wane. I’ve always been driven by the thrill of solving problems and facing new challenges, but as things at Blu Atlas began to operate more smoothly, that thrill started to fade. I missed the fire of overcoming new obstacles every day.

It dawned on me then that maybe the best way forward for Blu Atlas was under new stewardship, with someone who could take the brand into the next phase of its journey. With a healthy dose of reluctance and excitement for the brand’s future, I made the decision to sell, confident that it was the right move, and one that would enable Blu Atlas to reach even greater heights.

MJ: What do you think are the most important strategies to keep a brand strong and competitive in today's fast-changing business world?

Deep Patel: I’d boil it down to one key element: authenticity.

Nobody appreciates feeling like they’re just another target for sales. It’s become all too common for brands to bombard their audience with ads and products that don’t genuinely reflect what they claim to represent. It’s like watching a scenario where the message is lost in translation – they’re trying to hit a target but end up missing the mark entirely.

This is where many big corporations are dropping the ball. They’ve become massive, out-of-touch entities, producing and marketing in ways that don’t truly resonate with their consumers. They fail to connect because they’re too slow to respond to real consumer needs, or they do so in a way that feels forced and insincere.

The most powerful strategy a brand can employ is to connect with its consumers by creating products they actually believe in. Brands that focus on amplifying the voices of customers who love their products are making a true impact. This genuine engagement is what makes a brand stand out.

The underdogs, the small indie brands, possess a secret weapon. They're currently leading the charge in innovation because they're attuned to what consumers actually need and want. More often than not, these creators are their own target audience, giving them an edge in understanding and meeting consumer needs.

MJ: How do you build a good team and lead them well when building and growing your brand?

Deep Patel: At Blu Atlas, we were more than just a team; we were a tight-knit family. When we sold to Foundry, you could count the number of people we had on one hand. Each member was worth their weight in gold – fiercely loyal, insanely passionate and absolutely committed to delivering nothing but the best for our customers.

I ran a tight ship. I believe in setting the bar high and keeping it there, ensuring hyper-accountability in everything we do. In the world of startups, especially when you're building a brand from scratch, there's no room for half measures or half-hearted efforts. You need a team that's fully committed, ready to dive in headfirst and push the boundaries of what's possible.

That meant setting clear, ambitious goals, equipping the team with the tools and resources they needed, and then trusting them to knock it out of the park. I fostered an environment where taking ownership wasn't just encouraged; it was expected.

MJ: Can you talk about a tough time in your business journey and what you learned from it?

Deep Patel: Absolutely. I've had my fair share of tough times, and each one has taught me something invaluable. One of the biggest challenges I faced was in the early days of Blu Atlas, particularly when it came to perfecting our product line. There was no magic formula, no shortcut to achieving a perfect solution. When we started, I tasked our formulator with creating amazing natural and effective formulas, but we lacked a clear direction on the specific materials to use. We quickly found ourselves running in circles. The task of creating products that were both clean and effective seemed like an insurmountable hurdle.

That was when I realized I needed to take the bull by the horns. I dove deep into research, going through endless lists of ingredients and chemical compositions, searching for the perfect alternatives to the harsh components found in standard personal care products. I ordered ingredients from all over the world, and went on a rigorous testing rampage.

Through trial and error, we eventually fine-tuned a process to create high-end natural formulas that achieved everything I had hoped for and more. After repeating this process a few times, I knew we had something special. That was the moment I knew Blu Atlas was ready to go live. I flipped the switch on our website, and just like that, we were in business.

MJ: What online marketing tactics have worked best for reaching and connecting with the right customers for your brand?

Deep Patel: Navigating the world of marketing direct-to-consumer business is unnecessarily hard. The strategies are always evolving. I've seen firsthand how seemingly insignificant changes, like Apple's IOS 14 update, can upend the entire game, making customer acquisition nearly four times more expensive overnight. Relying solely on online ads for marketing suddenly became a treacherous path.

With Blu Atlas, I decided to switch things up. My strategy was to create genuine connections, not just broadcast ads. I reached out to key influencers in the men's grooming space, and it was game-changing when they started talking about our products organically. This fostered authentic relationships and enabled the quality of our products to speak for itself.

I then amplified what the influencers and our customers were saying. We poured our marketing resources into showcasing real, user-generated content. This approach created a ripple effect. Soon, Blu Atlas was the name on everyone’s lips, and our online presence skyrocketed.

We also introduced an affiliate program, incentivizing our customers to spread the word about Blu Atlas. This organically resulted in a community that felt invested in our success.

MJ: Balancing short-term wins with long-term success can be tricky. How do you handle this, and what guides your decisions?

Deep Patel: It’s my belief that lack of money and lack of focus are the two biggest killers of startups.

When running a business, there is always something out there that feels shiny and distracting, whether it’s a new sales channel to explore or a trendy product idea to launch. The best founders are experts at prioritization. To me, prioritization means looking at the long-term goal and, when managing tasks at hand, trying to make sure the urgent ones don’t overtake the important ones.

Short-term wins should all feed into a master goal for a company’s success. If they do, you’re on strategy. If they don’t, you’re getting distracted.

MJ: What advice do you have for someone just starting out building their own brand and aiming for significant growth?

Deep Patel: First, pour everything you have into creating an outstanding product. This is nonnegotiable. You need to dedicate time, resources and a whole lot of passion to ensure your product isn't just good, but remarkable. First impressions matter most, and you rarely get a second chance to fix a poor first impression. Plus, a fantastic product speaks for itself. It’s the kind of marketing that money can’t buy.

Next up, honesty and pragmatism are your best friends. Real talk: At Blu Atlas, we were hitting six figures in revenue and were profitable right out of the gate. But if your business isn't showing healthy growth or isn't financially sustainable, it's time to either pivot fast or pull the plug. It's tough, but sometimes the best thing one can do is admit when something isn't working.

Third, take big risks. Especially in crowded markets, you’ve got to be bold and be different. For me, this meant taking a leap of faith and sending our products to influencers before we even made our first sale.

Last, and perhaps most importantly, focus on retention once you've established a solid base. The customers you already have are far more valuable than any new ones you might acquire. They are the key indicators of your brand’s success. If they’re reordering, your acquisition costs decrease and you've got a truly sustainable business on your hands.

MJ: How do you gather and respond to customer feedback, and how has it influenced the development of your brands?

Deep Patel: At Blu Atlas, we were hyperaware of our customer feedback. We were always on the pulse, actively running surveys and polls, and sometimes even reaching out directly to our customers through cold calls for their insights on improvement. Our customers were our lifeline; their satisfaction was paramount. If they weren't happy with something, it became my mission to understand why and figure out how to address it.

Customer feedback was integral to our development process. It influenced everything from our product formulations to our branding strategy. Though we had our own hypotheses about what the market would like, our customers served as the ultimate deciders, confirming whether we were on the right track or needed to pivot.

MJ: How do you maintain a healthy work-life balance while remaining actively involved in the growth and management of multimillion-dollar brands?

Deep Patel: I don’t believe there is such a thing as a healthy work-life balance for founders. I genuinely love what I do – creating products, solving problems, building brands. It's not something I can just switch off at 5 p.m. It’s more than a job; it’s a part of my life.

That said, I do have some nonnegotiables that help keep me grounded. Daily exercise is a must; it helps clear my mind and maintain my focus. Regular check-ins with friends are also crucial. They offer a sense of normalcy and a break from the intensity of the wild world of business.

MJ: When facing setbacks or challenges, what mindset or approach do you adopt to overcome obstacles and keep moving forward?

Deep Patel: Sean Parker, the founder of Napster, once said something that resonated with me: “Running a start-up is like eating glass. You just start to like the taste of your own blood.”

As a founder, you're inevitably going to face challenges, no matter how well you prepare. You find yourself constantly putting out fires, dealing with one problem after another. But it's crucial to develop a certain mental rigidity to survive and thrive in such an environment.

It doesn't come easy, and frankly, it's not supposed to. But as you tackle each problem and navigate each setback, you start to build resilience. It's almost like you develop a taste for these challenges. They become the things that drive and push you to grow and evolve, both as a founder and a person.

The fun part comes once it’s over. There’s an intense satisfaction in looking back and realizing you were one of the few who figured out how to make it out the other side.

This interview was conducted in partnership with Famous Entrepreneurs.